Gaming Capital? POGOs & Transformation of Manila & PH

[drbubb]

BEL vs. PLC

Update 1.02.24 : BEL(1.17) vs PLC (0.64): 183% & PSEI (6,470). ratio-1.80% /100,  1/02/24

BEL(1.22) versus PLC (0.61) - and  PSEI (6,176). ratio-2.00x,  vs. YE-2022: 1.22 / 0.475 = r-2.57. 9/7/23

BEL-etc: 0.49 /1.17 (41.8%) / Psei-6,703= 0.0175% at 5.5.23, was 0.019% (0.47/ 1.27=37.0%, 6,605)

BELLE Corp. Investments  (last: P 1.16)   12.13.23. Value:  Ye'22 : Value:
PLC  : Prem. Leisure Corp: 79.78% : 24.9B x0.58= 14.49B / 0.475: 11.83B
LOTO: Pacific Online Sys. : 50.10% : .449B x3.20=  1.43B  / 1.650:  0.74B
APC  : APC Grp, .021 BkV : 48.80% :  3.7 B x.211 =  0.78B / 0.260:  0.96B
Smph: SM Prime Hldgs.    : < 1%.    : 61.8M x33.4=  2.06B / 35.50:  2.19B
====  Four Traded Co’s. : ===== :  ====  ===  = 18.76B /. === : 15.72B
====  (at 12.13.23 )         : 18.76B  / 9.76= P1.92 / BEL sh / P1.61, Nav 3.49
=       change from Ye'22: Gain from YE   +19.3% / v.ye'21 : P1.22, Nav 3.10
====  ( at 12.13.22): P 1.16: Disc.to MkV: -39.8% / 

BEL : Belle Corp.              :  100%.  : 9.76B  x1.24 = 11.61 B / P1.22 at ye'22
* PLC pays .0502 div. x24.9B= P2.00B /9.76B= P.205 incoming, 0.06 out
Other investments
+ City of Dreams Resort :
+ LAND for development
+ Premium Leisure amusements
+ Tagaytay Club shares
================  = value: 16.B ?
- Debt Outstanding ??
- Total NAV, ye'22:  3.49 x 9.76B = 34.1B : Ye'21: 3.10 x 9.76B = 30.2B

PLC (0.49 x 31.22B sh= 15.3B) x 80%= 12.2B.  vs. BEL (1.17 x 11.83B sh= 13.8B) : 88% PLC-backed

w/PLUS (ex. LR), last: 2.46

===

POGO BAN - to trigger Real Estate crisis?

Philippines to shut 175 offshore gambling firms, deport 40,000 Chinese workers

MANILA: The Philippines will stop operations of 175 offshore gambling firms and deport about 40,000 Chinese workers, a justice ministry official said on Monday (Sep 26), part of a crackdown on the notoriously opaque online gaming industry.

The sector emerged in the Philippines in 2016 and grew exponentially, as operators capitalised on the country's liberal gaming laws to target customers in China, where gambling is banned.

At their peak, Philippine offshore gambling operators, or POGOs, employed more than 300,000 Chinese workers, but the pandemic and higher taxes have forced many to operate elsewhere.

> more: https://www.channelnewsasia.com/asia/philippines-shut-175-offshore-gambling-firms-deport-40000-chinese-workers-2966496 x

===

‘POGO ban to trigger real estate crisis’

Iris Gonzales - The Philippine Star  /  Sept. 26, 2022

Economic losses seen at P200 billion per year

MANILA, Philippines — A total ban on Philippine offshore gaming operations (POGOs) may trigger another crisis in the real estate industry and spill over to the economy as it could translate to annual losses of nearly P200 billion, an industry player has warned.

The complete ban on POGOs is also expected to translate to an additional office space vacancy of 1.05 million square meters – the space currently occupied by the remaining POGOs, according to real estate consultant David Leechiu, CEO of Leechiu Property Consultants (LPC).

This, in turn, could swell losses from the POGO exodus to roughly P190 billion, according to LPC estimates.

The estimated annual losses are broken down as follows: P54.3 billion to P57.1 billion in income tax from foreign FTEs (full-time equivalent); P52.5 billion in fit-out cost or the cost of providing furniture, fixtures and technology; P28.6 billion in housing rent across 2.4 million sqm of residential space; P18.9 billion in office rent; P11.4 billion expenditure on commissary meals; P9.5 billion in electricity cost; P5.8 billion in taxes; P5.25 billion in revenue for the Philippine Amusement and Gaming Corp. and P952 million in daily spending.

The empty offices could also lead to closures of medium-sized and smaller property players and push rental rates back to their levels as far back as two decades ago, Leechiu warned.

In a recent briefing, Leechiu said an outright and blanket ban on POGOs would lead to an oversupply in the sector and could cut rental rates by more than half, which would be detrimental to property players.

The Bay Area, for instance, used to fetch P1,500 to P2,000 per sqm from POGOs and about P750 to P900 per sqm from other tenants. But with rising vacancy, Bay Area rents are now down to P600 to P500 per sqm, industry data showed.

Other business districts such as Makati and Ortigas could potentially face the same situation and set prices back to pre-POGO years.

Higher vacancy and low rental rates may result in a liquidity crunch for the sector and thus trigger another crisis for the property industry, which in recent decades was already brought to its knees by past global meltdowns such as the Asian financial crisis of 1997 and the US mortgage crisis of 2007.

The POGO sector has so far vacated 630,000 sqm of office space, which led to contractions in the industry in the last three years.

> more:  https://www.philstar.com/business/2022/09/26/2212187/pogo-ban-trigger-real-estate-crisis

[drbubb]

POGOs leaving?   Could be bad news for Office rents:            

Compare: 1.05M now, versus 1.68M before, means only 37.5% of potential losses in Office tenancies has  happened so far/

" Leechiu said that if an additional 1.05 million in office space would be vacated, it would translate to wider losses, and put additional pressure on rental rates.
Over the past three years, POGOs have vacated 630,000 sqm in office space."           

> more: https://www.philstar.com/business/2022/09/26/2212187/pogo-ban-trigger-real-estate-crisis

Some Columnists want ALL POGOs GONE!

GOODBYE POGOS

JOBS???   "No official receipts were ever given. When ordering in their largest dining compound in our area, I would be handed a piece of paper on which Chinese characters were written. If there was no OR, no taxes were paid.

As for job generation, the restaurants and grocery stores did employ Filipino staff, mainly to communicate with the locals. But the job requirement for POGO employment in its core business, obviously, is fluency in Mandarin. So Filipinos handled only support jobs such as clerical work, maintenance and janitorial services...             

There was one local sector that reaped benefits from the influx of non-resident aliens: real estate. Pre-pandemic, there were numerous reports of private homes being rented out at up to 10 times the prevailing rates, with six months’ advance payment.  The demand for POGO workers’ accommodations was so high that top property developers quickly jumped in, buying up long-idle land around known POGO hubs and rapidly constructing condominium-type buildings."

EJECT them All?? 

"President Marcos has been saying that the Philippines is open for business. The Duterte administration kept saying the same thing for six years.
What we got were the POGOs, with measly returns for national coffers.
The new administration should reject suggestions to retain what’s left of the POGOs, and simply bid everyone good riddance."

> more: https://www.philstar.com/opinion/2022/09/30/2213276/goodbye-pogos

The POGOs came.   To start businesses with their own rules.  Lower taxes,  When the PHL rules got enforced, many left.  EJECTING THEM ALL, so quickly with have positive and Negative consequences.  This needs some careful thinking.  Not just an emotional response

[drbubb]

Gambling stocks

BEL vs. PLC, LR (now: PLUS)  ... since 2020:

On September 06, 2022, Leisure & Resorts World Corporation changed its name to DigiPlus Corporation.

BEL / Belle Corp ... All: 10yr: 5yr: 2yr: Ytd: 10d./ Last: 1.18 +0.02 , PER: 7.95x

PLC / Premier Leisure Corp ... All: 10yr: 5yr: 2yr: Ytd: 10d./ Last: 0.45 +0.005 , PER: 9.89x / Yield: 11.2%

PLUS / DigiPlus, LR / Leisure & Resorts World ... All: 10yr: 5yr: 2yr: Ytd: 10d./ Last: 2.26 - 0.58 , PER: N/A

===

[drbubb]

BELLE Corp is getting a Bid... along with the PSEI

BEL / Belle Corp. etc. 2022: YTD: 10d: 1.23 +0.02 / Psei: 6,781 = 0.018%

[drbubb]

BEL vs. PLC

BEL-etc: 0.49 /1.17 (41.8%) / Psei-6,703= 0.0175% at 5.5.23, was 0.019% (0.47/ 1.27=37.0%, 6,605)

PLC (0.49 x 31.22B sh= 15.3B) x 80%= 12.2B.  vs. BEL (1.17 x 11.83B sh= 13.8B) : 88% PLC-backed

PLC vs. BEL, 2019: BEL-etc: 0.49 /1.17 (41.8%) originated 1.04.19: 0.82 /2.41 (34.0%)

w/PLUS (ex. LR), last: 2.46

===

[drbubb]

Fierce rise in PLC (& PLUS), leaves BEL behind

PLC vs. BEL... since 2020: Oct.22: 10d/. PLC: 0.56, BEL: 1.16

we saw it coming... Oct.22:

PLUS also had a surge ... to: new High of 3.69: FLIP /. Yr.Range: 1.28 to 3.69

===

[drbubb]

PLC has moved ahead of BEL

PLC,  Last: 0.56 ... BEL should be at...  (0.56 /34%)= 1.65, (0.56 /42%)=1.33,  but is only at 1.20 (-10% less)

PLC-Bel: 0.56 / 1.18 = 47.5%

[drbubb]

PLC (0.54) vs. BEL (1.18) : 9.07.22: rev: Ratio: 45.8%,  start: 0.45/ 1.15= R-39.1%, peak: 0.59/ 1.48= R-39.9%

P vs B

[drbubb]

PLC vs. BEL ... from YTD: 10d.  0.54 / 1.26 = r-42.9%.  YrE'2022: 0.475 / 1.22= r-38.9%

[drbubb]

OVER SUPPLY problem will hit MANILA BAY the hardest.
MANILA  -Residential tower vacancies in Metro Manila are set to rise in 2024 as property investors banking on the once-thriving demand from China-focused Philippine Offshore Gaming Operators (Pogo) find few takers amid an ongoing exodus.

“These were launched prepandemic in 2018 and 2019 during the height of the Pogo demand,” Colliers research director Joey Bondoc told the Inquirer. Data from Colliers Philippines showed around 5,900 condominium units will be completed in the Manila Bay Area next year, bringing its total supply to 44,1000 units.

“Colliers estimates that the Bay Area will have the largest condominium supply in Metro Manila in 2024, surpassing the Makati central business district and Fort Bonifacio,” the property consultancy said.

By end-2024, the Bay Area will likely cover about 27 percent of Metro Manila’s total condominium supply followed by Fort Bonifacio’s 26 percent and the Makati CBD’s 18 percent, it added.  

> More:  https://business.inquirer.net/417540/pogos-decline-set-to-hit-condo-market

[drbubb]

BEL-etc. 1.20 vs PLC : 0.56 / 1.20 = r-46.7%.  YrE'2022: 0.475 / 1.22= r-38.9%

P vs B

PLC

[drbubb]

BEL (1.22) owns about 80% of PLC (0.61)

BEL is lagging PLC; getting cheaper.  If ratio was 2.57 again, BEL would be P1.62.

BEL: P1.24, Compare: NAV: 3.62 (34.3%, vs. 39.4% of 3.10, ye'21) :

Liquid NAV: 2.08 (59.6%, vs 75.8%, of 1.61)

BEL (1.24) / PLC (0.63) = ratio-1.96x,  vs. YE-2022: 1.22 / 0.475 = r-2.57

BEL (1.22) owns 79.8% of PLC (0.61) - PLC holdings are worth P1.556,  127.6% of BEL MktCap

BELLE Corp. Investments.                               9.3.23. Value:    Ye'22 : Value:
PLC  : Prem. Leisure Corp: 79.78% : 24.9B x0.63= 15.69B / 0.475: 11.83B
LOTO: Pacific Online Sys. : 50.10% : .449B x4.00=  1.80B  / 1.650:   0.74B
APC  : APC Grp, .021 BkV : 48.80% :  3.7 B x.255=  0.94B / 0.260:  0.96B
Smph: SM Prime Hldgs.    : < 1%.    : 61.8M x30.0=  1.85 B / 35.50:  2.19B
====  Four Traded Co’s. : ===== :  ====  ===  = 20.28B /. === : 15.72B
====  (at 9.3.23 )             : 20.28B  / 9.76= P2.08 / BEL sh / P1.61 :
=                    change from.  :                                +40.5% in 1 yr. / +29.2%
====  ( at 9.7.22):             : 14.43B  / 9.76= P1.48 / BEL sh.

BEL : Belle Corp.              :  100%.  : 9.76B  x1.24 = 11.61 B / P1.22 at ye'22
* PLC pays .0502 div.  x 24.9B = P2.00B
Other investments
+ City of Dreams Resort :
+ LAND for development
+ Premium Leisure amusements
+ Tagaytay Club shares
================  = value: 16.B ?
- Debt Outstanding ??
- Total NAV, ye'22:  3.49 x 9.76B = 34.1B : Ye'21: 3.10 x 9.76B = 30.2B

[drbubb]

BEL restored its DIV at P0.06 in Mar.   
That is 4.92% Yield on BEL's P1.22 price.

BEL (1.22) versus PLC (0.61) - and  PSEI (6,176). ratio-2.00x,  vs. YE-2022: 1.22 / 0.475 = r-2.57

My calc shows :  24.9B PLC shs. x 0.05 = 1.245B received, / 9.76B
= worth 0.127 incoming PLC divs per BEL share.  
BEL can easily Double its dividend.
Since BEL has other earning assets.
(Pls feel free to FactCheck my #)

[drbubb]

"BEL Gets a Bid as PLC soars"

Update: BEL (1.28 +0.05, +4.0%) / PLC (0.67 +0.04, +6.3%):  10d:

BELLE Corp. Investments.                              9.13.23. Value:    Ye'22 : Value:
PLC  : Prem. Leisure Corp: 79.78% : 24.9B x0.66= 16.43B / 0.475: 11.83B
LOTO: Pacific Online Sys. : 50.10% : .449B x4.15=  1.86 B / 1.650:   0.74B
APC  : APC Grp, .021 BkV : 48.80% :  3.7B x.234=  0.87B / 0.260:  0.96B
Smph: SM Prime Hldgs.    : < 1% :   61.8M x30.05=  1.86B / 35.50:  2.19B
====  Four Traded Co’s. : ===== :  ====  ===  = 21.05B /. === : 15.72B
====  (at 9.13.23             : 21.05B /  9.76= P2.15 / BEL sh / P1.61 : nav: 3.49
=                    change from.  :                                +33.8%, from YE  :
Versus Current Price (P1.30) :   60.5%          -39.5% discount.      : -62.8%

[drbubb]

PLC Earnings News

2022 results,
Premium Leisure Corp. achieves solid 2022 results
Wednesday, March 1, 2023 - 08:36
(Pasay City, Philippines) Premium Leisure Corp. (PLC) realized consolidated revenues of Php2.080 billion for the year ended 2022, up by 20% from the previous year’s Php1.727 billion. As a result,... read more

  Q1
PLC q1 2023 net income jumps 110%
April 25, 2023 - 10:03
PLC recognized Php893.9 million consolidated revenues for the three months ended March 31, 2023, up by Php445.5 million or 99% from the same period last year.
The improvement in PLC’s... read more

  Q2
PLC h1 2023 net income, revenues continue rebound
July 28, 2023 - 15:42
PLC recognized consolidated revenues of Php1,583.0 million for the six months ended June 30, 2023, increasing by Php393.5 million or 33% from the same period last year.
The improvement in...

+48.8% up : PLC recognized Php1,245.1 million net income for the six months ended June 30, 2023 which is Php408.2 million (49%) higher than the net income of Php836.9 million that was recognized in 2022.

+35.2% up : Operating EBITDA (proxy for cash flow) for the period is at Php1,280.4 million showing an improvement of Php333.6 million (35%) from the reported EBITDA of Php946.8 million as of June 30, 2022.

> read more: https://www.premiumleisurecorp.com/investor-relations/press-releases/plc-h1-2023-net-income-revenues-continue-rebound

[drbubb]

PLC vs. BEL: 0.57 / 1.24=  46.0%, 2.18x :: 11.5 pe, 8.81% / 7.95 pe, 4.84%

[drbubb]

PLC PULLBACK.  A new surge might help BEL, updated Oct.27

PLC vs. BEL: 0.59 / 1.15= 51.3% oct.27. Yr. Peak prices: 0.69 / 1.49 = 46.3%

Update: GAP remains Huge.

PLC: 0.59, BEL: 1.15=Ratio: 51.3%, vs More "normal": 32.3%, 0.43 /1.33 at 1/22.

BELLE Corp. Investments.                           10.27.23. Value:    Ye'22 : Value:
PLC  : Prem. Leisure Corp: 79.78% : 24.9B x0.59= 14.69B / 0.475: 11.83B
LOTO: Pacific Online Sys. : 50.10% : .449B x2.88= 1.29 B / 1.650:   0.74B
APC  : APC Grp, .021 BkV : 48.80% :   3.7B x.232= 0.86B / 0.260:  0.96B
Smph: SM Prime Hldgs.    : < 1% :   61.8M x30.20= 1.87B / 35.50:  2.19B
====  Four Traded Co’s.. : ===== :  ====  ==== 18.71B /. === : 15.72B
====  (10.13.23            : 18.71 B / 9.76= P1.92 / BEL sh / P1.61 : nav: 3.49
====  ( 9.13.23             : 21.05B /  9.76= P2.15 / BEL sh / P1.61 : nav: 3.49
=       Share Portfolio, change from.  :                              +19.3%, from YE  :
Versus Current Price (P1.15) :   59.9%         -40.1% discount. nav:-66.0%
Previous, at 9.13.23: (P1.30) :   60.5%         -39.5% discount.      : -62.8%

Adding BEL to Watch List at 1.15.  5.22% Div. Yield,

Trades at huge discounts to NAV ( -66.0% below 3.49),

and to its share portfolio (-40.1%, 1.92) which is heavily into PLC

[drbubb]

Sy-blings bolster Premium Leisure subsidiary with P3 ...

Bilyonaryo. 7 days ago —

Premium Leisure Corp. (PLC), a company affiliated with the Sy family, is set to infuse up to P3 billion into the operations of its subsidiary, Sinophil Leisure and Resorts Corporation (SLRC).

In a regulatory disclosure, PLC announced its plan to expand its investment through the subscription of additional common shares from the existing unissued capital stock and the authorized capital stock increment of SLRC.

SLRC, a non-operating entity specializing in amusement, entertainment, and recreation, primarily holds an investment in Black Spade Acquisition Inc. This investment is notable for Black Spade Acquisition’s focused pursuit of identifying potential business combinations within the entertainment industry.

[webmaster]

PLC / BEL : YTD:  P 0.59 / P 1.17 = 50.4%;  Highs: 0.69 /1.49= 46.3%, Lows: 0.455 /1.11= 41.0%

BEL (1.17) / PLC (0.59) = 198%. / Psei (6,463, 64.63)= 1.81% /100

BEL: 10yr: 2013: 2014w/PLC: 2023: last: P 1.16

2014w/PLC: 2022: YTD:  P 0.58 / P 1.16 = 50.0%

BELLE Corp. Investments  (last: P 1.16)   12.13.23. Value:  Ye'22 : Value:
PLC  : Prem. Leisure Corp: 79.78% : 24.9B x0.58= 14.49B / 0.475: 11.83B
LOTO: Pacific Online Sys. : 50.10% : .449B x3.20=  1.43B  / 1.650:  0.74B
APC  : APC Grp, .021 BkV : 48.80% :  3.7 B x.211 =  0.78B / 0.260:  0.96B
Smph: SM Prime Hldgs.    : < 1%.    : 61.8M x33.4=  2.06B / 35.50:  2.19B
====  Four Traded Co’s. : ===== :  ====  ===  = 18.76B /. === : 15.72B
====  (at 12.13.23 )         : 18.76B  / 9.76= P1.92 / BEL sh / P1.61, Nav 3.49
=       change from Ye'22: Gain from YE   +19.3% / v.ye'21 : P1.22, Nav 3.10
====  ( at 12.13.22): P 1.16: Disc.to MkV: -39.8% / 

BEL : Belle Corp.              :  100%.  : 9.76B  x1.24 = 11.61 B / P1.22 at ye'22
* PLC pays .0502 div. x24.9B= P2.00B /9.76B= P.205 incoming, 0.06 out
Other investments
+ City of Dreams Resort :
+ LAND for development
+ Premium Leisure amusements
+ Tagaytay Club shares
================  = value: 16.B ?
- Debt Outstanding ??
- Total NAV, ye'22:  3.49 x 9.76B = 34.1B : Ye'21: 3.10 x 9.76B = 30.2B

 

[webmaster]

PLC rising in 2024: 1.18 +0.01 : r-173.5%,  0.68/ 1.18= 57.6%

BEL: 1.18 pe: 7.1, Y: 5.08%, PLC: 0.66 pe: 11.2, Y: 7.61%, SMPH: 33.65 pe: 25.4, Y: 0.70%, 

BELLE Corp. Investments  (last: P 1.18)  01.05.24. Value:  Ye'23 >Value: Ye'22
PLC  : Prem. Leisure Corp: 79.78% : 24.9B x0.68= 16.93B / 0.630: 15.69B: 0.475
LOTO: Pacific Online Sys. : 50.10% : .449B x4.47=  2.01B  / 4.950:  2.22B:  1.650
APC  : APC Grp, .021 BkV : 48.80% :  3.7 B x.235=  0.87B / 0.235:  0.87B:  0.260
Smph: SM Prime Hldgs.    : < 1%.    : 61.8M x33.7=  2.08B / 32.90:  2.03B:  35.50
====  Four Traded Co’s. : ===== :  ====  ===  = 21.89B /. === : 20.81B: 15.72B +32.4%
====  (at 01.05.24 )        : 21.89B  / 9.76= P2.24 / BEL sh / P1.17, Nav 3.49: P1.61
=       change from Ye'23: Gain from YrE   +5.19% / v.ye'21 : P1.22, Nav 3.10
====  ( at 01.05.24): P 1.18: Disc.to MkV: -47.3% / 

BEL : Belle Corp.              :  100%.  : 9.76B  x1.18 = 11.52 B / P1.17>ye'23 : P1.22
 

LOTO: Pacific Online Systems Corp.: 4.42 -0.38,  pe: 12.86, Y: 2.26%  (range: 1.56 to 5.46 )

LOTO - Pacific Online Systems Corporation / C08991: Pacific Online Systems press release

 

Pacific Online achieves two "game-changing" milestones in 2023

1. Test-run of first-ever official PCSO E-Lotto begins, Filipinos and qualified players can now bet anytime, anywhere Pursuant to the Memorandum of Agreement signed on August 30, 2023 with the Philippine Charity Sweepstakes Office (PCSO), Pacific Online, as the exclusive system and technology provider for the one- year trial run, recently forged ahead with the launch of PCSO E-Lotto, which is currently experiencing strong demand from the playing public. This first ever official, innovative and game-changing web-based application betting platform is available to fully registered and PCSO- verified players 18 years old and above using this link: elotto.pcso.gov.ph starting on December 15, 2023. Players can now conveniently play their favorite lotto games and pay through GCash and prospective third-party payment gateways.

2. PinoyLotto successfully launches nationwide lottery system PinoyLotto Technologies Corp. (PinoyLotto), the joint venture of Pacific Online, Philippine Gaming Management Corporation, and International Lottery & Totalizator Systems, Inc., successfully launched the Philippine Lottery System (PLS) on October 1, 2023, resulting in a unified and centralized lottery operations from the decades old legacy system. PinoyLotto completed the migration to PLS and installed 6,500 terminals on the ground to cater to retail customers nationwide. In 2021, PinoyLotto won the bid for this P5.8 Billion contract for five years. These two major achievements of Pacific Online underscore its commitment to support the mandates of the PCSO. On December 16, 2023, the PCSO raised the stakes even more in its "Handog Pakabog" Christmas draws by "offering a whopping more than P1-B in combined winnings for lucky bettors after it raised to a minimum guaranteed P500-M the jackpot prizes each for its Grand Lotto 6/55 and Ultra Lotto 6/58 games."

[webmaster]

NO HELP from PLC

BEL (1.14 -0.02) / PLC (0.67, unch.) : 170%

[webmaster]

PLC is doing well in 2024, after good earnings reported in Nov. 2023

( BEL owns 24.9/31.2B, 79.8%.  Each BEL sh. is backed by 2.57 PLC shares..  24.9/9.7= 2.57 )

PLC:  9m-EPS: 0.061, p.a: 0.081.  P0.71/0.081= PER:8.76. '23 Div: 0.05

BEL : P1.18 : 7.10 PE. Div. 0.06, Yield: 5.08%/  Note: PLC div. 0.05 x2.57= 0.1285 per BEL sh.  10d: Ytd: 

 

MktCap: 31.2B x0.71= P22.15B x 79.8% owned= 17.68B/ 9.7B sh. BEL=P1.82/sh. vs Mkt: 1.18 (154%, just PLC) 

PLC improves nine months 2023 net income, revenues  2023-11-03

PLC recognized consolidated revenues of Php2,300.1 million for the nine months ended September 30, 2023, increasing by Php495.3 million or +27% from the same period last year.

The improvement in PLC’s revenues is mainly brought about by better and more robust economic environment in 2023.

As of September 30, 2023, PLC’s subsidiary, Premium Leisure and Amusement, Inc. (PLAI), which earns gaming revenue share from the City of Dreams Manila (CODM), showed significant increase in revenue, which grew by Php351.0 million (24%) to Php1,797.7 million for the 2023 period from Php1,446.7 million for the 2022 period because of the improvement in the CODM mass and VIP segment casino operations, due to software upgrade and additional gaming machines in 2023. 

Cost and expenses increased from Php673.4 million as of September 30, 2022 to Php698.3 million as of September 30, 2023 mainly due to the higher variable costs that move in line with the improved operational results for the period.

Other income pertains to interest income earned from investment and money market placements. The increase of Php290.0 million (263%) is mainly from realized gain on the redemption and sale of its financial asset coupled with increase in market interest rates which resulted to better returns on investments.

PLC recognized Php1,917.1 million net income for the nine months ended September 30, 2023 (P 1,917M /31.2B =0.061 per sh.) 

which is Php697.3 million (57%) higher than the net income of Php1,219.8 million that was recognized in 2022.

Operating EBITDA (proxy for cash flow) for the period is at Php1,783.8 million showing an improvement of Php441.0 million (33%) from the reported EBITDA of Php1,342.8 million as of September 30, 2022. 

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Belle Corp. Results for the Third Qtr Ended Sep. 30, 2023, Reported: Oct. 26, 2023 

= : 2022 : 2023 / Plc’22: Plc’23: 80%P: CofD 
Rv. 4.27B: 4.30B/ 1.80B: 2.30B: 1.84B / 1.80B:
Sales
9m 3.36B: 3.80B/
Q3  2.35B: 1.22B/
Earns
9m 1.36B: 1.53B /  1.22B: 1.92B: 1.54B /
%S  40%    40%      68%    83%   
6m .400B:  1.03B/
Q3  .947B: .499B/
%S   40%    41%

===> source:  https://www.marketscreener.com/quote/stock/BELLE-CORPORATION-6496977/

Belle Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was PHP 1,218.05 million compared to PHP 2,352.01 million a year ago. Revenue was PHP 1,373.5 million compared to PHP 2,965.97 million a year ago. Net income was PHP 498.97 million compared to PHP 947.14 million a year ago.
For the nine months, sales was PHP 3,802.84 million compared to PHP 3,364.8 million a year ago. Revenue was PHP 4,302.89 million compared to PHP 4,271.32 million a year ago. Net income was PHP 1,534.32 million compared to PHP 1,361.32 million a year ago.